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Wednesday, 20 June 12
BDI MOVING HIGHER, PANAMAX AND SUPRAMAX VESSELS STRONGER, CAPESIZE RATES NEAR TO HISTORICAL LOWS OF DECEMBER 2008 - MARIA BERTZELETOU, HELLENIC SHIPPING
 The dry market seems to follow the dynamic of the previous week with the Baltic Dry Index showing daily increases since June 8th, but is still standing below the psychological barrier of 1,000 points mark. The capesize segment, the main key factor, lying behind the overall positive performance of the BDI, faces tremendous supply issues with average time charter earning floating at levels below $3,500/day. During the Lehman crisis of 2008, capesize average time charter earnings have dipped to $2,318/day on the beginning of December of 2008, from the peak of $233,988/day on June 5th. The levels of 2008 belong in a forgettable past with dry bulk operators finding ways to adjust their operational results in the current weak freight market. The recent slide of bunkering costs, the record scrapping activity of this year and the low ordering activity have eased at some level the pain of the market, but the dry cargo demand is not yet at levels that could remedy the imbalance of the freight markets between vessels’ supply and demand.
Panamax have recently found some support with average time charter earning reaching levels at more than $8,000/day, but they are still below $10,000/day, when at similar period last year levels were at around $14,000-$15,000/day. The increased activity in Atlantic and new coal cargoes from Indonesia have recently lifted panamax rates by 20% from the beginning of June, but there is still great uncertainty about the long term stability of the panamax segment given the outstanding orderbook and the upcoming vessel deliveries in 2013. According to Commodore Research, for the second half of this year, the orderbook for panamax vessels stands at roughly 355 vessels, while the orderbook for capesize vessels stands at roughly 145 vessels. For 2013, the orderbook for panamax vessels stands at roughly 240 vessels, while the orderbook for capesizes at around 90 vessels.
Supramax and handysize rates are also showing firmer signs from an increased spot chartering activity with levels at more than $11,000/day for supramax units and near to $10,000/day for handysizes.
Near term prospects for the capesize market remain dark with supramax and handysize vessel categories showing a stronger resistance in the current oversupplied market. Chinese demand for imported iron ore cargo has shown weakness in June due to recent decline in steel production and a large amount of iron ore stockpiled at Chinese ports, even the rise of Chinese iron ore imports in the first five months of the year to around 300.1mt, up 9% year-on-year. There is a positive outlook on the rebound of Chinese iron ore demand in the coming month due to government’s stimulus measures in the industrial sector. Chinese demand for thermal coal remains also low, but the peak summer electricity demand is approaching with the government waiting daily electricity consumption at a record of 15.5 to 16 billion kilowatt hours this summer.
As we are near to end of the first half of 2012, the BDI has averaged below 1,000 points mark, at 940 points, compared with more than 1,300 points last year. The dry outlook is not at all optimistic as larger vessel categories, panamax and capesizes, are struggling to perform in the current vessels’ supply figures, pushing the BDI to hover below 1,000 points. The recent upward changes of the index driven mainly from the boosted performance of the panamax size bringing a euphoria that seems that will no last for a long time.
Source: Maria Bertzeletou, Hellenic Shipping
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Friday, 03 August 12
INDIA - LIGHTS OUT! - SALVA
The Indian power sector hit global headlines this week for all the wrong reasons. Firstly, on Monday, over 350 million people lost power across nort ...
Thursday, 02 August 12
OIL & GAS COMPANIES TO MEET IN MYANMAR FOR UPDATES ON NEW ROUND OF BIDDING AND INVESTMENT POTENTIAL IN UPSTREAM OIL, GAS, AND POWER GENERATION
Press Release - 2nd MOGP Summit (Myanmar Oil, Gas & Power) will convene in Yangon from 3 – 6 September 2012, to unveil new round of biddin ...
Thursday, 02 August 12
DRY BULK MARKET RATES CONTINUE SLUMP AMID SLOWER DEMAND NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept on its downward path Wednesday, as the BDI (Baltic Dry Index) kept retreating to new lows. The index was down by 2.12 perce ...
Monday, 30 July 12
DRY BULK MARKET TO REMAIN UNDER PRESSURE FOR THE REST OF 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In an interview with Hellenic Shipping News Worldwide, Mr. Yannis Pachoulis, President of the Hellenic Shipbrokers' Association, remains cautiously ...
Sunday, 29 July 12
FREIGHT MARKET MOMENTUM CONTINUES TO WEAK
COALspot.com - The freight market continued to soft this week with all the segments dropped and the BDI fell below 1,000 points and closed at 933 po ...
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- CNBM International Corporation - China
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Alfred C Toepfer International GmbH - Germany
- Indika Energy - Indonesia
- Indian Oil Corporation Limited
- Indian Energy Exchange, India
- MS Steel International - UAE
- Planning Commission, India
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Africa Commodities Group - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Heidelberg Cement - Germany
- Deloitte Consulting - India
- San Jose City I Power Corp, Philippines
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Parliament of New Zealand
- GN Power Mariveles Coal Plant, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Tamil Nadu electricity Board
- Bukit Asam (Persero) Tbk - Indonesia
- Mercuria Energy - Indonesia
- PowerSource Philippines DevCo
- Vedanta Resources Plc - India
- Sical Logistics Limited - India
- Mintek Dendrill Indonesia
- VISA Power Limited - India
- Borneo Indobara - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Edison Trading Spa - Italy
- Essar Steel Hazira Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- ASAPP Information Group - India
- Wood Mackenzie - Singapore
- Meenaskhi Energy Private Limited - India
- Formosa Plastics Group - Taiwan
- Rashtriya Ispat Nigam Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Aditya Birla Group - India
- Australian Coal Association
- Indonesian Coal Mining Association
- Posco Energy - South Korea
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Maharashtra Electricity Regulatory Commission - India
- Ministry of Mines - Canada
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Intertek Mineral Services - Indonesia
- Goldman Sachs - Singapore
- Global Coal Blending Company Limited - Australia
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Orica Australia Pty. Ltd.
- Price Waterhouse Coopers - Russia
- Uttam Galva Steels Limited - India
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Riau Bara Harum - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Barasentosa Lestari - Indonesia
- Bangladesh Power Developement Board
- Timah Investasi Mineral - Indoneisa
- Baramulti Group, Indonesia
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- Petron Corporation, Philippines
- PTC India Limited - India
- Aboitiz Power Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- SMG Consultants - Indonesia
- Tata Chemicals Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Orica Mining Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Minerals Council of Australia
- Videocon Industries ltd - India
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- European Bulk Services B.V. - Netherlands
- Ministry of Finance - Indonesia
- Wilmar Investment Holdings
- Maheswari Brothers Coal Limited - India
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Carbofer General Trading SA - India
- Singapore Mercantile Exchange
- Standard Chartered Bank - UAE
- IEA Clean Coal Centre - UK
- Renaissance Capital - South Africa
- Offshore Bulk Terminal Pte Ltd, Singapore
- Siam City Cement - Thailand
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Bukit Baiduri Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- Electricity Authority, New Zealand
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Semirara Mining Corp, Philippines
- Sarangani Energy Corporation, Philippines
- Ministry of Transport, Egypt
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Lanco Infratech Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Electricity Generating Authority of Thailand
- Makarim & Taira - Indonesia
- Energy Development Corp, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Simpson Spence & Young - Indonesia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Pendopo Energi Batubara - Indonesia
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Grasim Industreis Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Coastal Gujarat Power Limited - India
- Ind-Barath Power Infra Limited - India
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Kobexindo Tractors - Indoneisa
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- GAC Shipping (India) Pvt Ltd
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Globalindo Alam Lestari - Indonesia
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Bhoruka Overseas - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bharathi Cement Corporation - India
- Cement Manufacturers Association - India
- Bhatia International Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Eastern Energy - Thailand
- Interocean Group of Companies - India
- Xindia Steels Limited - India
- ICICI Bank Limited - India
- LBH Netherlands Bv - Netherlands
- Therma Luzon, Inc, Philippines
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- Rio Tinto Coal - Australia
- Energy Link Ltd, New Zealand
- Sojitz Corporation - Japan
- Sakthi Sugars Limited - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Madhucon Powers Ltd - India
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